Two new films have picked up distribution deals at the Sundance Film Festival.

According to The Hollywood Reporter, the first is Joel Schumacher's look at drug dealing among rich Manhattan teens. The film division of book publisher Hannover House paid $2m (Â£1.2m) for the movie, which is scheduled to close the festival.

The second, Hesher, stars Joseph Gordon-Levitt and is produced by Natalie Portman. It was commissioned domestically by NewMarket Films somewhere in the $1m (Â£625,000) range.

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Late on Thursday, several other deals were said to be imminent. The Weinstein Company was leading the chase to sign documentary Catfish at the time.